More Global Investors Look at Ice Cream Market in China
BY Chris WangNov 24, 2020
-The Japanese food giant Meiji is setting up a new factory in Shanghai for ice cream production. -China has become the world’s largest ice cream consumption market and the market scale reached 138 billion yuan in 2019. But it has not been saturated yet. -A batch of new and small ice cream brands have been going viral since 2016.

Meiji’s latest movement on ice cream in China

On November 13, the Japanese food giant Meiji announced its latest 650 billion yuan investment plan - setting up a new factory in Shanghai for ice cream production. This factory will begin operation in 2023 which will grant Meiji 2.3 times higher production capacity of ice cream within China [1].

Meiji already has an ice cream plant in Guangzhou established in 2012, which has an annual production capacity of 107,100 tons with a total investment of 789 million yuan. 

The reason behind this new factory is the sales of Meiji's ice cream consistently increased in China. In 2019, it was up by 25% Y-o-Y. According to its 2020 semi-annual financial report, Meiji's confectionery, milk and yoghurt sales declined in the Chinese market, whereas ice cream bucked the trend with unexpected growth.

popular-ice-cream-products-in-china-by-meiji.pngPopular ice cream products in China by Meiji, JD.COM

A look at China ice cream market

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Chris Wang
ChemLinked Content Manager, Research Specialist
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